Tony Griffiths has a "can you identify it?" section - look at Unknown Lathes in his machinery archive. Maybe he would post a pic of it there.
Saxony is the southernmost part of what was East Germany. The lathe probably dates from before reunification, and was no doubt made for export outside the communist bloc and labelled "Made in Saxony" in an attempt to avoid the possible negative connotations of "Made in the German Democratic Republic".
Andy